Cheapest Renters Insurance in Minnesota

State Farm is the best company for cheap renters insurance in Minnesota, with an average rate of $9 a month. Progressive is the next-cheapest, at $14 a month.

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Best cheap renters insurance in MN

Cheapest renters insurance companies in Minnesota

State Farm has the cheapest renters insurance in Minnesota, with an average rate of $9 a month.

Progressive is the state’s second-cheapest renters insurance company, at $14 a month. American Family and Farmers are next, each with rates of $16 a month.

Minnesota renters insurance rates

CompanyMonthly rateLendingTree score
State FarmState Farm$94-Stars
ProgressiveProgressive
$143 stars
American Family logoAmerican Family$163.5-Stars
FarmersFarmers$163 stars
AmicaAmica$184.5 stars
AllstateAllstate
$193.5-Stars
AssurantAssurant$213 stars

American Family and Progressive offer more renters insurance discounts than State Farm. If you can get a few of them, either could be the cheapest company for you.

Both companies have discounts for bundling more than one insurance policy with them, such as renters and auto. They also have discounts for going paperless or paying for the entire term of your policy when you buy it.

Between these two companies, only American Family offers discounts for automatic payments, smart homes, loyal customers and young adults whose parents have American Family insurance. And only Progressive offers discounts for getting a quote before your policy starts or living in a gated or secured community.

To find out which of these companies is the cheapest for you, compare renters insurance quotes from each of them side by side before you buy or renew a policy.

Minnesota’s best renters insurance companies

State Farm is the best renters insurance company in Minnesota overall. You should also get quotes from American Family and Amica as well, though, to see how they compare to State Farm.

This is because all three companies have their own strengths and weaknesses, and the best for you may depend on things like where you live and your claims history.

Minnesota renters insurance company rates and ratings

CompanyMonthly rateCustomer satisfaction Customer complaints
State Farm$96851.22
American Family$166750.51
Amica$187110.37

Best company overall and cheapest rates: State Farm

State Farm
4-Stars

  • Monthly rate: $9

State Farm should be the first company you go to when shopping for renters insurance in Minnesota. Its average rate is the state’s lowest by $5 a month.

It also offers many ways to customize your renters insurance coverage, such as by adding pet medical insurance or identity restoration insurance. Or you can get personal liability umbrella coverage, which can help protect you from claims for defamation of character, libel or slander.

Customers seem to be somewhat split on their experiences with State Farm, however. On the one hand, the company has a great J.D. Power satisfaction score. This generally means its customers are happy with how it deals with price, coverage options, service and more.

But State Farm’s National Association of Insurance Commissioners (NAIC) rating suggests it gets more complaints than average.

PROS

  • Cheapest average rate in Minnesota
  • Great customer satisfaction score
  • Several coverage options

CONS

  • Not many discounts
  • Customer complaint rating is worse than average

Runner-up: American Family

American Family
3.5-Stars
  • Monthly rate: $16

Although American Family’s average rate is $7 a month more than State Farm’s, some other aspects of the company could make up for it.

American Family rates well with customers, for starters. Its NAIC rating is especially good, and suggests it receives about half as many customer complaints as are expected of a company its size.

Also, American Family offers many discount and coverage options. Its discounts may not make it your cheapest option, but they could bring it in line with State Farm.

The company’s optional coverages are even more impressive. American Family has more add-ons than any other renters insurance company we surveyed in Minnesota.

For an extra cost, you can get coverage for equipment breakdown , flash floods, water backups and home businesses. Other options include coverage for pet healthcare costs, travel issues , identity protection and credit monitoring.

PROS

  • Good customer ratings
  • More discounts than any other company we surveyed
  • Many add-on coverages

CONS

  • Rates are just average

Best customer satisfaction: Amica

Amica_logo
4.5 Stars
  • Monthly rate: $18

Amica is a good choice for renters insurance in Minnesota. Customers love it based on its excellent ratings from J.D. Power and NAIC. It also offers some nice coverage add-ons that let you customize your policy, like protection for computers, tablets and phones.

Although Amica’s renters insurance rates are quite a bit higher than State Farm’s, it has several discounts that could help make it cheaper.

With Amica, you may get discounts for bundling auto and renters insurance, signing up for auto pay and agreeing to receive bills and other info electronically. You can also save money for being insured for at least two years or not filing any claims for at least three years.

PROS

  • Best customer satisfaction score of surveyed companies
  • Very few customer complaints
  • Several discounts
  • Good coverage options

CONS

  • Average rate is double State Farm’s

Is renters insurance required in Minnesota?

State law doesn’t require renters insurance in Minnesota. But you might need to buy it as part of a rental or lease agreement.

Many landlords require renters insurance to protect themselves from renters who may damage the building or their unit. They also do it to guard against liability claims or needing to cover relocation costs in certain cases.

Why you should buy renters insurance

It’s usually a good idea to get a renters insurance policy even if your landlord doesn’t require one.

  • It covers your belongings — like clothing, electronics and furniture — from damage or destruction. Your landlord’s insurance won’t cover this.
  • It also protects you from liability claims, such as if you damage the building or if someone is injured while visiting you.
  • It’s cheap. Renters insurance offers a good amount of coverage for just a few dollars per month.

How much is renters insurance in Minnesota?

The average cost of renters insurance in Minnesota is $16 a month, or $192 a year. That’s 11% less than the U.S. average of $18 a month, or $216 a year.

What you pay for renters insurance depends on a few factors, including where you buy it. The average cost of a policy in Minnesota ranges from $9 a month with State Farm to $21 a month with Assurant.

Where you live in the state can also impact your monthly payment. People who live in Rochester and St. Cloud pay $15 a month for renters insurance, for example. In Minneapolis, the average rate is $18 a month, or 20% more.

Minnesota renters insurance rates by city

CityMonthly rate
Apple Valley$16
Blaine$16
Bloomington$16
Brooklyn Park$17
Burnsville$16
Coon Rapids$16
Cottage Grove$15
Duluth$17
Eagan$16
Eden Prairie$16
Edina$16
Lakeville$16
Mankato$15
Maple Grove$17
Maplewood$16
Minneapolis$18
Minnetonka$15
Moorhead$16
Plymouth$16
Rochester$15
St. Cloud$15
St. Louis Park$16
St. Paul$16
Shakopee$16
Woodbury$16

Frequently asked questions

Renters insurance for an apartment costs $16 a month in Minnesota, on average. That’s $192 a year.

You might pay more or less than this amount based on things like where you live in the state, how much coverage you buy and your history of filing claims.

State Farm has the cheapest renters insurance in Minnesota. The company’s average rate is $9 a month, or $108 a year.

Progressive’s average rate is a little higher, at $14 a month, or $168 a year. But it also offers more discounts than State Farm, which could make it cheaper.

How we selected the cheapest renters insurance companies in Minnesota

LendingTree collected thousands of renters insurance quotes from the largest insurance companies in each state, based on data availability. Prices are shown for comparative purposes only. Your own rates may be different.

Renter profile

Unless noted otherwise, quotes are for a 30-year-old single woman who has no recent renters insurance claims.

Coverage limits

Coverage limits include:

  • Personal property coverage: $20,000
  • Deductible: $500
  • Personal liability: $100,000
  • Guest medical protection: $1,000
  • Loss of use: $9,000

How we evaluated car insurance companies

Our team of insurance experts rated insurance companies based on several categories. These categories include average rates, discounts, coverage options, third-party customer service ratings and app/website experience. We weighted these categories based on what customers value in an insurance company.

For third-party customer service ratings, we included Complaint Index scores from the National Association of Insurance Commissioners (NAIC) and financial strength ratings from A.M. Best. NAIC Complaint Index scores are used to determine how satisfied customers are with their claims, while financial strength ratings from A.M. Best reflect the ability to pay out claims.